Plus Size Apparel Market by Type, Gender, Age Group and Price: Opportunity Analysis and Industry Forecast, 2021-2027
PORTLAND, OREGON, USA, March 8, 2022 /EINPresswire.com/ — According to a new report, plus size apparel worldwide was valued at $480,991.8 million in 2019 and is expected to reach $696,712.1 million by 2027, registering a CAGR of 5.9% from 2021 to 2027. The market is expected to present an incremental revenue opportunity of $215.8 billion from 2019 to 2027.
Rising demand for plus size clothing due to growing obese population, rising consumer confidence and increasing number of brands offering plus size clothing has propelled the growth of the plus size clothing market.
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Rising demand for plus size clothing due to obese and overweight population, growing body positivity trend and increasing confidence of plus size women due to heavy fashion advertisements and campaigns promotions are driving the growth of the plus size apparel market
Rise in demand for plus size clothing due to obese and overweight population, growing body positivity trend and increase in plus size women’s confidence due to heavy fashion advertisements and promotional campaigns are boosting the growth of the plus size clothing market. However, high prices for retailers and the complexity of manufacturing are holding back growth to some extent. Additionally, the increase in the availability of plus size apparel through omnichannel retailing and growing brand presence in the industry is providing a number of lucrative opportunities for market players.
On the basis of gender, the male segment held the largest market share with around half of the global plus size apparel market revenue in 2019 and is expected to reign over the forecast period. This is attributed to the presence of a proportionately large obese male population and high spending on plus size clothing. On the other hand, the female segment is expected to show the fastest CAGR of 7.50% throughout 2027. There has been an upward trend in female obesity rates, which has driven the growth of the segment .
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On the basis of type, the casual wear segment contributed almost a third of the global plus size wear market share in 2019 and is expected to lead the way during the study period. This is due to the growing consumer adoption and acceptance of casual wear for social occasions. On the other hand, the activewear segment is expected to grow at the fastest CAGR of 6.4% by 2027. Shifting consumer choices and preferences and increasing inclination towards athleisure sportswear are driving segment growth.
Based on geography, North America dominated the market with a large share in 2019, holding more than a third of the global plus size apparel market. This is due to factors such as the availability of the largest obese population and the highest consumer expenditure on plus size clothing in this region. Moreover, the Asia-Pacific region is also expected to register the fastest CAGR of 6.50% from 2020 to 2027. This is due to the increase in the average calorie intake per individual among middle class households and high income in this province.
Key Market Players Profiled in the Report:
○ (H&M) Hennes & Mauritz AB
○ Ralph Lauren Company
○ Adidas SA (Adidas)
○ Nike Inc. (Nike)
○ ASOS plc
○ Capri Holdings Limited (Michael Kors)
○ WHP Global (Anne Klein)
○ Point Fa SL (MANGO Inc.)
○ Under Armor Inc.
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Main results of the study
○ By type, the plus size casual wear segment was the largest contributor to the plus size wear market with $1,48,158.9 million in 2019, and is expected to reach $2,20,779 million by 2027, with a CAGR of 6.3% over the forecast period.
○ By age group, the 16-59 segment was the largest contributor to the market, with $2,82,918.9 million in 2019, and is expected to reach $4,09,215 million by 2027, with a CAGR of 5.9% in the plus size apparel market forecast period.
○ By gender, the male segment was the largest contributor to the market, with $2,41,736.50 million in 2019, and is expected to reach $3,38,032.8 million by 2027, with a CAGR of 6, 8% over the forecast period.
○ By price level, the mid-range segment was the largest contributor to the market, with $1,79,370.6 million in 2019, and is expected to reach $2,58,260.7 million by 2027, with a CAGR of 5.8% over the forecast period.
○ In 2019, North America was the largest revenue contributor, accounting for $1,70,691.5 million in 2019, and is expected to reach $2,50,816.3 million by 2027, with a CAGR of 6.1%.
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